HomeMy WebLinkAbout86-2662 ordORDINANCE NO. 86-2662
AN ORDINANCE LEVYING MUNICIPAL AD VALOREM TAXES FOR THE CITY
OF PLAINVIEW, TEXAS, FOR THE YEAR 1986, DIRECTING THE
ASSESSMENT AND COLLECTION THEREOF.
.WHEREAS, the City Council finds that the tax for the
year 1986, hereinafter levied for current expenses and
general. improvement of the City and its property, must be
levied to pravide for the ensuing year, and.
WHEREAS, the City Council further finds that the taxes
for the Year 1986,. hereinafter levied, therefore, are
necessary to pay interest and to provide a sinking fund on
outstanding bonds maturing in the ensuing year: .NOW,
THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
PLAINVIEW:
SECTION 1: There is hereby levied- and there shall be
collected for the use and .support of the Municipal
government, and to pravide interest and sinking funds, a tax
of sixty-two and no hundredths cents ($0.6200) on the one
hundred dollars. ($100) valuation. of all property, real,
personal, and mixed within the corporate limits of said City,
subject to taxation, for the specific purpose herein set
forth:
(a) For the current expenditures of the City of
Plainview and for the general improvement use and support of
the City and its property, there is hereby levied and
ordered to be assessed and collected for the Year 1986 on
all property situated within the limits of the City, and not
exempt from taxation by a valid law, an ad valorem tax at
the rate of fifty-eight and seventy-eight hundredth cents
($0.5878) on they one hundred dollars ($100) valuation of
such property.
(b) For the purpose of paying interest and providing a
sinking fund .for the payment. of each issue of Municipal
Bonds, there is hereby levied and ordered to be assessed and
collected for the Year 1986 on all property situated within
the limits of the City and not exempt from taxation by a
valid law and ad valorem tax for each issue of bonds
described in this section, the sum of said levies being
three and twenty-two hundredth cents ($0.0322) on the
hundred. dollars ($100) valuation of such property, said bond
issues and amounts of the levies being as follows:
BOND ISSUE
G.O. Bonds, Series 1974
G.O. Bonds, Series 1976
TAX RATE PER $100 VALUATION
$0.01548
$0.01672
$0.03220
SECTION. 2: That the ad valorem taxes levied shall become
due on October 1, 1986, and may be paid up to and including
the following January 31, without penalty, but if not so
paid, such taxes shall become delinquent on the following
day, February 1, .and the penalty and interest designated
herein shall be collected for each month or portion of the
month that the delinquent taxes remain unpaid.
MONTH PENALTY INTEREST RATE
February 1 6 0 t o
March 1 7 2
April 1 g 3
May 1 g 4
June 1 10 5
July 1 12 6
The rate of interest to be collected on delinquent taxes
shall be one percent (10} per month for each month they
remain unpaid. On July 1 the total penalty incurred on
delinquent taxes shall be twelve percent (120) without
regard to the number of months the tax is delinquent.
Accrual of interest at one percent ( l o } per month for each
month taxes remain unpaid continue until the taxes are paid.
Interest and penalty collected. from such delinquent taxes
shall be apportioned to the general fund of the City of
Plainview.
SECTION.. 3: The taxes herein levied shall. be a first and
prior lien against the property upon which they are assessed
and the said first lien shall be superior and prior to all
other liens, charges and encumbrances, and this lien shall
attach to personal. property to the same extent and
priorities as real estate. The liens. provided herein
attached as of January 1, 1986.
PASSED ON FIRST READING THIS- 9TH DAY OF SEPTEMBER, 1986.
PASSED AND APPROVED ON SECOND AND FINAL READING THIS 23RD
DAY OF SEPTEMBER, 1986.
f
F
.V. RIDLEHUBER, Mayor
ATTEST:
ERYL WEN, City Clerk